If you are considering using another company’s compensation plan, exactly the same or with a few changes, I would ask you these questions:
1. total budget for field compensation
2. understanding of different types of compensation plans
identical as compared to those of the other company?
3. products and services
5. compensation ethics
6. compensation priorities
7. experiences with other compensation plans
8. preferences for the types of bonuses and commissions
9. business ethics
10. plans for the future of your business
all the same as those of the other company?
The likelihood of 10 yes’s is almost zero, so my answer is simply…. never. It’s never wise or safe to use another company’s compensation plan.
Sylvina Consulting can help you to design a new, or modify an existing, compensation plan. We can also answer your questions about compensation plans. If you have questions or need help, please feel free to contact me at 503.244.8787 or email me at firstname.lastname@example.org.